The result appears parenthesized and red, which indicates a negative value, or cost. Monthly PMI (0.85): 303 (this is required mortgage insurance payments every month until you have paid for 22 of the home value) 46. If the escrow also includes homeowner's insurance, you need to add the annual policy cost, although you can estimate this using the national average of $481.Įnter "=PMT(A1/12,A2*12,A3)-A4-A5/12" in cell A6 to calculate your monthly payment. Mortgage, Down Payment, and Affordability Calculator: 2. If you only wish to estimate taxes, enter "=A3*0.015" which estimates taxes as 1.5 percent of the loan amount. ![]() Contact your local tax assessors office to find out the annual taxes on your property, which is paid via the escrow account. It also calculates the breakdown of your total payments by total principal paid, total interest paid, total PMI paid, and total tax. It requires home value, loan amount, interest rate, loan term and property tax rate inputs. Simply download from the link below and start using it. If you only wish to estimate PMI, you can enter "=A3/1500" or "=A3/3700" which calculates PMI based on common formulas.Įnter the annual escrow amount in cell A5. This is an easy to use Excel mortgage calculator template. Want more features View our website to see. This fee varies between lenders, so you need to contact the mortgage company to find out the amount they charge. This Excel spreadsheet makes it easy to view the amortization of a home loan with optional extra monthly payments. ![]() If you are borrowing $200,000, then you would enter "$200,000".Įnter the monthly PMI fee in cell A4. In the example, if the loan was for 30 years, you would enter "30".Įnter the loan amount in cell A3. ![]() Enter the length of the mortgage in cell A2.
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